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☆ Meet the climate startup turning a 5,000-mile stretch of seaweed from a plague of coastal communities into a giant carbon store
▼ + stars: | 2023-05-24 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +8 min

London-based Seaweed Generation is one such startup dedicated to seaweed sequestration. She's part of a wave of new "blue economy" entrepreneurs taking advantage of seaweed for carbon removal. Seaweed GenerationThe seaweed RoombaEstridge's Seaweed Generation has developed a robot that she described as a "Roomba meets Pac-Man." Seaweed Generation will work in waters with around 4,000 meters of depth and no upwelling current, which could bring sargassum back to the surface. Seaweed Generation has a planned pilot with the government of Antigua, which is invested in protecting its tourism industry.

☆ Price to Plug Old Wells in Gulf of Mexico? $30 Billion, Study Says.
▼ + stars: | 2023-05-08 | by ( Hiroko Tabuchi | ) www.nytimes.com time to read: +1 min

That raises risks that oil and other pollutants will leak into the ocean and travel to shore and smother wetlands, particularly sensitive salt marshes along the northern Gulf Coast. Orphaned oil and gas wells are a big issue onshore, too. You can’t just drive a truck up to it.”Possible SolutionsThe $1 trillion infrastructure bill that President Biden signed into law in 2021 sets aside $4.7 billion to plug orphaned wells, both onshore and off. That’s a sizable sum, but not nearly enough to cover the backlog of orphaned wells. Eighty-seven percent of wells under federal jurisdiction were once owned by one of the supermajors, many of which have recently booked record profits.

☆ Biden Is Transformational, and Not in a Good Way
▼ + stars: | 2023-04-26 | by ( Phil Gramm | Pat Toomey | ) www.wsj.com time to read: +1 min

Journal Editorial Report: Paul Gigot interviews former Trump White House economist Kevin Hassett. Images: AP/Zuma Press Composite: Mark KellyFrom Wall Street to Silicon Valley, from the Permian Basin to the Chicago Loop, an iron net of regulation has descended across the American economy. Churchill’s metaphor conveys the magnitude of the onslaught and the peril it poses to the American economy and our freedom. We face not an errant regulator or an officious bureaucrat, but a sea change in the economy’s regulatory ecosystem. In the short term, President Biden’s regulatory tsunami will fuel inflation and make a recession more likely.

☆ Ford F-150 Lightning fire footage highlights a growing EV risk
▼ + stars: | 2023-04-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

EV fires have become a growing concern as automakers push to increase sales of electric vehicles and meet tightening emissions standards. An electric Ford F-150 Lightning caught fire on Feb. 4, 2023 due to a battery issue traced back to one of the automaker's suppliers. A bill that requires them to complete a training program about the risk of electric vehicle fires passed unanimously this year. There's also the risk of reignition: Lithium-ion battery fires can re-engage weeks later with little to no warning. An electric Ford F-150 Lightning caught fire on Feb. 4, 2023 due to a battery issue traced back to one of the automaker's suppliers.

☆ Russia Turns to Treason Laws as Putin Extends Crackdown
▼ + stars: | 2023-04-19 | by ( Matthew Luxmoore | ) www.wsj.com time to read: 1 min

Russia is increasingly using treason and espionage laws to smother criticism of the war against Ukraine after President Vladimir Putin’s government widened the scope of the legislation and expanded his crackdown on opponents. Sentences are often longer than they were before last year’s invasion, Russian lawyers and human-rights defenders say, and prosecutors often add more severe charges including terrorism and extremism to acts of dissent that were previously punished with petty fines or suspended sentences.

☆ Rodrygo double eases Real Madrid into semi-finals
▼ + stars: | 2023-04-18 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

Real looked capable of killing the tie whenever they moved forward and Rodrygo, who scored a vital goal against Chelsea at the same stage last year, smashed a shot against the post. Home keeper Kepa Arrizabalaga then beat away a Vinicius Junior effort before Real's master craftsman Luka Modric forced another save from Arrizabalaga. "It was a second yellow card, which means a red, which means 30 minutes with us a man up," Lampard said. Real then switched gears and Rodrygo skipped past Chalobah's wild slide on the right and his cross was eventually played back to him by fellow Brazilian Vinicius Jr to calmly slot home. ($1 = 0.8048 pounds)Writing by Martyn Herman in London Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

March 21 (Reuters) - Virginia sheriff deputies and medical staffers wrestled with a handcuffed Irvo Otieno, a 28-year-old Black man, for several minutes at a state mental hospital before he died, video surveillance shows. Police have arrested and charged three former employees of the mental health hospital and seven sheriffs deputies of Henrico County, Virginia, with second-degree murder in Otieno's death. Most of the deputies and hospital employees involved in the case are also Black. The video, a download link of which was made available in court documents, shows about six officers carrying Otieno into a room. At times as many as 10 deputies and hospital workers held him down while his legs were shackled and his arms were held behind his back.

☆ Congressional budget forecast to provide insight on U.S. debt ceiling deadline
▼ + stars: | 2023-02-15 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, Feb 15 (Reuters) - The Congressional Budget Office (CBO) on Wednesday will provide some clarity on when the United States may default on its payment obligations if lawmakers fail to raise the federal borrowing limit amid a tense partisan spending stand-off. A second CBO report will describe the "current debt situation and CBO's expectation about when the Treasury will no longer be able to pay its obligations fully if the debt limit is not raised." "There has been a Republican drumbeat to cut Social Security and Medicare," Senate Majority Leader Chuck Schumer, a Democrat, reminded reporters on Tuesday. There is no agenda on the part of Senate Republicans to revisit Medicare or Social Security. Reporting by David Lawder; Additional reporting by Richard Cowan; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

"If the debt limit is not raised or suspended before the extraordinary measures are exhausted, the government would be unable to pay its obligations fully," the CBO report said. "As a result, the government would have to delay making payments for some activities, default on its debt obligations, or both." CBO Director Phillip Swagel attributed the rise to higher interest rates that particularly are hitting the housing industry, coupled with slowing business investment. REUTERS/Elizabeth FrantzRepublicans, who control the House of Representatives, want to withhold a debt limit increase until Democrats agree to deep spending cuts. Democrats in turn say the debt limit should not be "held hostage" to Republican tactics over federal spending.

During the pandemic, mortgage rates plummeted below 3%, flooding the real estate market with homebuyers trying to snag a good rate. "Mortgage rates have trended down in the past couple of months," he says. So... [for] someone waiting for a 3% or 4% mortgage rate, it's not going to happen." For example, Rocket Mortgage is currently offering a mortgage rate buydown program called Inflation Buster. Evaluate whether you're buying for the right reasons and determine if you and your budget are ready for this important milestone.

Softening their forecasts of recession this year, the BoE's nine interest rate-setters voted 7-2 to increase Bank Rate to 4.0% - its highest since 2008 - from 3.5%. The announcement comes a day after the U.S. Federal Reserve slowed the pace of its rate hikes with a smaller quarter-point move, but said it expected further increases would be needed. The European Central Bank raised rates by a half a percentage point on Thursday to 2.5%. They said further interest rate hikes would hinge on evidence of more persistent price pressures appearing. That represented a signal to investors that its sharp run of rate hikes might be coming to an end.

Softening their forecasts of recession this year, the BoE's nine interest rate-setters voted 7-2 to increase Bank Rate to 4.0% - its highest since 2008 - from 3.5%. The European Central Bank looks set to raise rates by a half a percentage point later on Thursday to 2.5%. Previously the BoE had forecast 2023 inflation at around 5%. Previously the BoE has said that "it will respond forcefully, as necessary" to signs of further inflation pressure, and "further increases in Bank Rate may be required". As a result, the BoE saw Britain's economy still below its pre-pandemic size until after 2025, representing seven lost years for growth.

☆ Bank of Japan has learnt danger of half-measures
▼ + stars: | 2023-01-18 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

The Bank of Japan (BOJ) made no adjustments to its yield-curve control (YCC) policy that keeps interest rates ultra-low on Wednesday. However, that tweak’s failure to reduce the need of central bank intervention has left the BOJ with little appetite for more compromises. Instead Kuroda rolled out a new tool to hold interest rates down, signaling intervention will continue. CONTEXT NEWSThe Bank of Japan on Jan. 18 kept its ultra-low interest rates policy unchanged and maintained a bond yield cap band it has struggled to defend. Under the amended rules, the central bank can offer funds of up to 10 years against collateral to financial institutions for both fixed and variable-rate loans.

☆ The 'world's coolest dictator' rounded up 60,000 people in a crackdown on MS-13. A shrimp farming community is fighting back.
▼ + stars: | 2022-12-27 | by ( Danielle Mackey | ) www.businessinsider.com time to read: +29 min

SISIGUAYO, EL SALVADOR — On the morning that Walber Rodriguez was arrested last May, he was just two minutes from his home in Sisiguayo, El Salvador. Outside El Salvador, Bukele is best known for adopting Bitcoin as a national currency. All around them in Sisiguayo and the surrounding Bajo Lempa valley, people were arrested with no satisfactory explanation. Residents of the Bajo Lempa who'd been touched by the arrests had begun meeting weekly at a nearby retreat center. A meeting of the Bajo Lempa families on June 17, 2022.

☆ The 'world's coolest dictator' rounded up 60,000 people in a supposed crackdown on MS-13. A shrimp farming community is fighting back.
▼ + stars: | 2022-12-27 | by ( Danielle Mackey | ) www.businessinsider.com time to read: +29 min

☆ Colombia's oil theft soars, leaving trail of environmental harm
▼ + stars: | 2022-12-23 | by ( Oliver Griffin | ) www.reuters.com time to read: +9 min

Reuters accompanied a police unit tasked with tackling oil theft in September to two sites near Tumaco, a Pacific port in southwest Colombia that is the terminal for the country's Transandino oil pipeline. The animals, the trees - everything is totally burned," said Colonel Johan Pena, commander of the police unit charged with tackling oil theft in Narino, a province bordering Ecuador that is known for cocaine production. Reuters approached more than a dozen environmental groups, rights advocates, government agencies and international organizations who either said they had no detailed information on the extent of the environmental damage in Colombia from oil theft or did not respond to questions. Oil spills on land smother soil pore spaces, restricting microorganisms' access to oxygen, said Martha Daza, a professor at Cali-based university Universidad del Valle's school of engineering of natural resources and the environment. Regional health authorities in Narino did not immediately respond to questions about the health impact of oil spills.

Carl Icahn had a textbook strategy for the Nevada-based energy utility Southwest Gas Holdings. In August, Southwest Gas' board decided against a divestiture, and the sale of subsidiaries that Icahn had urged remains uncertain. "Shareholders don't want to hear it, but you really have great difficulty selling a company at a good price today," the widely followed activist investor Icahn told Insider. via CNBCBut, like Icahn in the case of Southwest Gas, participants in this new onslaught may find themselves confounded by an increasingly complex and fraught business environment. According to Lazard, 37% of activist campaigns this year were launched by first-timers, the highest proportion since the company started tracking these figures in 2015.

Carl Icahn had a textbook strategy for the Nevada-based energy utility Southwest Gas Holdings. In August, Southwest Gas' board decided against a divestiture, and the sale of subsidiaries that Icahn had urged remains uncertain. That means that the sale of companies like Southwest Gas is off the table for the time being — or will get done at prices far lower than before. via CNBCBut, like Icahn in the case of Southwest Gas, participants in this new onslaught may find themselves confounded by an increasingly complex and fraught business environment. According to Lazard, 37% of activist campaigns this year were launched by first-timers, the highest proportion since the company started tracking these figures in 2015.

☆ Myanmar detention was ‘hell,’ says freed Japanese filmmaker
▼ + stars: | 2022-11-29 | by ( ) www.nbcnews.com time to read: +2 min

TOKYO — A Japanese filmmaker jailed for nearly four months in Myanmar described some of his detention there as “hell” and called on Tokyo to take a tougher stance against human rights abuses in the military-controlled country. A spokesperson for Myanmar’s junta did not immediately respond to a request for comment. The economic adviser, Sean Turnell, also described filthy cells and having to eat out of a bucket while in a Myanmar jail in an interview with The Australian newspaper on Monday. Vicky Bowman, Britain’s ambassador from 2002 to 2006 who heads a group promoting ethical business in Myanmar, had been jailed for immigration violations. “I would hope the Japanese government would take a much stronger stance towards the Myanmar military,” said Kubota, adding that any funds flowing from Japan to Myanmar should be closely scrutinized.

CNN —China’s vast security apparatus has moved swiftly to smother mass protests that swept the country, with police patrolling streets, checking cell phones and even calling some demonstrators to warn them against a repeat. While protests over local grievances do occur in China, the current wave of demonstrations is the most widespread since the Tiananmen Square pro-democracy movement of 1989. Some of the boldest protests took place in Shanghai, where crowds called for Xi’s removal two nights in a row. Police cars patrol Shanghai's Urumqi Road, which has been completely blocked off by tall barricades after a weekend of protests. Another Shanghai protester told CNN they were among “around 80 to 110” people detained by police on Saturday night, adding they were released 24 hours later.

☆ Myanmar detention was 'hell', says freed Japanese filmmaker
▼ + stars: | 2022-11-28 | by ( John Geddie | ) www.reuters.com time to read: +2 min

TOKYO, Nov 28 (Reuters) - A Japanese filmmaker jailed for nearly four months in Myanmar described some of his detention there as "hell" and called on Tokyo to take a tougher stance against human rights abuses in the military-controlled country. A spokesperson for Myanmar's junta did not immediately respond to a request for comment. The economic adviser, Sean Turnell, also described filthy cells and having to eat out of a bucket while in a Myanmar jail in an interview with The Australian newspaper on Monday. Vicky Bowman, Britain's ambassador from 2002-2006 who heads a group promoting ethical business in Myanmar, had been jailed for immigration violations. "I would hope the Japanese government would take a much stronger stance towards the Myanmar military," said Kubota, adding that any funds flowing from Japan to Myanmar should be closely scrutinised.

☆ Germany salvages draw against Spain but World Cup hopes still hang in the balance
▼ + stars: | 2022-11-27 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

CNN —Niclas Füllkrug’s late strike was enough to salvage a point for Germany against Spain as qualification from Group E goes down to the wire. Germany needs to beat Costa Rica and hope Spain defeats Japan or, if Japan earns a draw, ensure it has a superior goal difference. Álvaro Morata celebrates after scoring the opening goal against Germany. But just when it looked as though Germany was growing into the match, Spain found the breakthrough thanks to substitute Morata, who ran onto Jordi Alba’s low cross and poked the ball past Neuer. Germany will know only a victory against Costa Rica will do – but even that might not be enough.

☆ BoE's Pill sees no victory over inflation yet but recession coming
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

"I think we cannot declare victory against second-round effects, but we are entering a recession," Huw Pill said at a conference organised by the bank UBS on Tuesday. But the central bank also told investors that they were pricing in too many interest rate increases in the future, a message that Pill said was an attempt to give a more realistic view of where Bank Rate was heading. "We're not meant to be inflation nutters," Pill said. "We are meant to sort of manage this trade-off in a way that avoids unnecessary, counterproductive maybe, disruptions to the real economy." Pill said he was sceptical that front-loading interest rate increases could bring about an "immaculate disinflation" with no real-world consequences, addressing criticism that the BoE had been too slow to raise borrowing costs.

☆ Malaysia's deportation of Myanmar refugees violates international law - UN
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

The deportations, which included former navy officers seeking asylum, expose those sent away to danger and are a violation of the international law on non-refoulement, according to UNHCR, referring to a law that protects refugees or asylum seekers from being deported. "In the last two months alone, hundreds of Myanmar nationals are reported to have been sent back against their will by the authorities," UNHCR spokesperson Shabia Mantoo told a Geneva press briefing. The latest incident involving an asylum seeker being sent back to conflict-torn Myanmar occurred on Oct. 21, Mantoo added, despite intervention by the UNHCR with authorities. Myanmar's embassy in Malaysia previously said in a post on Facebook that 150 Myanmar nationals were deported by plane on Oct. 6 in cooperation with Malaysian immigration authorities. So far, more than 150,000 refugees and asylum seekers, including many ethnic Rohingya Muslims, have fled to neighbouring Malaysia.

KUALA LUMPUR, Oct 19 (Reuters) - Malaysia deported 150 Myanmar nationals this month, including former navy officers seeking asylum, and plans to send back more despite the risk of arrest they face at home, four sources familiar with the matter said. The two were deported from Malaysia for failing to hold valid documents to reside in the country, the sources said. Myanmar's embassy in Malaysia said in a post on Facebook that 150 Myanmar nationals were deported by plane on Oct. 6 in cooperation with Malaysian immigration authorities. The agency did not comment on dangers faced by Myanmar nationals deported back home. Despite such criticism, Malaysia is planning to deport more Myanmar nationals, according to community leaders who said they were briefed by authorities on planned deportations.

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